On Sept. 4, 1991, Cell Therapeutics, also known as CTI BioPharma, was incorporated by two oncologists, Drs. James Bianco and Jack Singer, and financial executive, Louis Bianco.

Founded as a spin-off of the Fred Hutchinson Cancer Research Center, CTI BioPharma was focused on the acquisition, development and commercialization of novel targeted therapies covering a spectrum of blood-related cancers that offer a unique benefit to patients and healthcare providers.

In June 2023, Swedish Orphan Biovitrum AB (Sobi®) announced it had completed the acquisition of CTI for USD $9.10 per share in cash and was valued at up to USD $1.7 billion.